Data has become a valuable commodity, with only a few large technology companies possessing the insights and profits derived from it. To build and maintain customer trust and loyalty, it would be beneficial to provide people with valuable insights that can enhance their intelligence and self-awareness.
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GLOAccording to an article published by Tomas Chamorro-Prezumic in Harvard Business Review, AI is currently assisting businesses in gaining a better understanding of their customers, and some predict that it will soon possess a deeper knowledge of individuals than they do themselves. Data has become a valuable commodity, with only a few large technology companies possessing the insights and profits derived from it. To build and maintain customer trust and loyalty, it would be beneficial to provide people with valuable insights that can enhance their intelligence and self-awareness. Consumer decisions are increasingly based on data, but this data does not necessarily increase their intelligence or rationality, indicating a significant missed opportunity. To counteract this, it is essential to democratize the knowledge that algorithms have on individuals by ensuring that companies share the personal insights they have gathered with them. Brands can improve their ethical reputation and trustworthiness by sharing their insights with consumers, demonstrating that knowing them well and helping them to know themselves well can be done ethically and transparently without any conflict.
